Rs 2 lakh KYC Update scam: What is it, how it happened and how to avoid it

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Rs 2 lakh KYC Update scam: What is it, how it happened and how to avoid it - Business Standard

Quick Summary:

KYC fraud is a type of scam where criminals impersonate bank officials or representatives to trick individuals into revealing their personal and financial information.

The complainant went to the bank's local branch to report the fraud and approached the police after putting in a call on the helpline number.

The fraud came to light after the woman's son approached the Mahim police station with a complaint on Monday, a police official was quoted as saying by PTI.